Juncker envisages EU of core groups

Integration and more integration, the only solution the Eurocrats present in the face of political, economic and social instability. Get ready for the German-led United States of Europe, possibly a group of 10 nations.

 

Juncker: “This is no longer a time when we can imagine everyone doing the same thing together” (Photo: consilium.europa.eu)

 

European Commission head Jean-Claude Juncker has said that EU states which wanted deeper integration should press ahead in core groups in reaction to the UK’s departure.

“We can do many things together, but his is no longer a time when we can imagine everyone doing the same thing together,” he said at a speech in the Louvain-la-Neuve university in Belgium on Thursday (23 February). Continue reading

Germany Considers Economic Retaliation Against Trump

Caption: German Finance Minister Wolfgang Schäuble (Sean Gallup/Getty Images)

 

If America unleashes a trade war starting with BMW, Germany is prepared to fight back.

Senior German politicians have threatened to unleash a trade war on the United States if President Donald Trump follows through his threats to German industry.

President Donald Trump famously threatened to put a 35 percent tax on the German car manufacturer BMW in an interview published by the Times of London and Bild on January 15. German politicians were quick to respond. The next day, German public broadcaster ZDF asked German Finance Minister Wolfgang Schäuble if the world is entering a time of more protectionism. Schäuble said he hoped not but also pointed out one way Germany could hit back.

“I also want to point out that currently American companies don’t have to tax their gains which they make outside of the U.S.,” he said. “That means that hundreds of billions of untaxed gains, of great American companies, rest in a tax oasis” (Trumpet translation throughout). Continue reading

Driven into their Arms

MEXICO CITY/BERLIN (Own report) – The Mexican government is pushing to rapidly modernize its free trade agreement with the EU and has declared its “close affinity” to Germany, following US President Trump’s threats of massive reprisals by building a wall at the border and imposing punitive tariffs. Because of its extreme dependence on the USA, Mexico can only hold its ground by intensifying its relations with other countries, according to Mexican Foreign Minister Luis Videgaray. Mexico’s enticements are greeted with sympathy by German business circles. The majority of German firms active in Mexico had already decided on new investments and is planning to carry these out, despite expected disadvantages from the projected US trade policy. Experts assume that the US administration cannot afford excessive punitive tariffs or other exorbitant escalations. At an appearance last week in Mexico, Siemens CEO Joe Kaeser ostentatiously announced investments worth US $200 million and signed an agreement of intent with Mexico’s Minster of Economics for infrastructure and industrial projects with a possible volume of up to US $36 billion. Continue reading

Iran Renews Destructive Cyber Attacks on Saudi Arabia

AP

Tehran strategy seeks takeover of oil-rich U.S. ally

After a four-year hiatus, Iran recently resumed destructive cyber attacks against Saudi Arabia in what U.S. officials say is part of a long-term strategy by Tehran to take over the oil-rich kingdom and regional U.S. ally.

Late last month, the Saudi government warned in a notice to telecommunications companies that an Iranian-origin malicious software called Shamoon had resurfaced in cyber attacks against some 15 Saudi organizations, including government networks. Continue reading

Taiwan Joins Global War On Cash: Plans To Ban Purchases Of Houses, Cars, & Jewelry

 

The cancerous virus of freedom-destroying worldwide cash-bans – in the name of fighting terrorism – has reached Taiwan this week. With the aim of ‘preventing money-laundering’, Taiwan may ban cash purchases of properties and luxury goods, Taipei-based Economic Daily News reports, citing unidentified official at Ministry of Justice.

As we previously noted, the War on Cash is not merely continuing, it is intensifying. Continue reading

U.S. Says It Won’t ‘Take’ Iraq’s Oil As Russia Expands Influence

Oil Engineer

 

Less than a day after U.S. Defense Secretary James Mattis contradicted Trump’s oft-repeated maxim that we should have taken Iraq’s oil, Russia has moved to expand its footprint in the region with a new oil deal in Iraqi Kurdistan.

Russian state-owned Rosneft PJSC has announced that not only will it purchase Kurdish crude until 2019, but it is also studying exploration and production opportunities there. The deal was announced at the same time that Russia moved to expand its footprint in Libya in a second deal designed to gain more control in the Middle East. Continue reading

Iran Announces 2 Billion Barrel Shale Oil Find

 

The western province of Lorestan will be getting new attention from the Iranian oil ministry following the discovery of major shale oil reserves in the region, according to new reports emerging from the area.

The resources, found in the Ghali Koh field, totaled two billion barrels, Bahman Soleimani, the National Iranian Oil Company’s Soleimani said on Monday, citing a recent study. “The oil is light,” he described.

Other research on the area’s shale gas reserves will be completed by October 2017, the official added. Continue reading

Robots poised to take over wide range of military jobs

Henrik Christensen, director of UC San Diego’s Contextual Robotics Institute. (K.C. Alfred / Union-Tribune)

 

The wave of automation that swept away tens of thousands of American manufacturing and office jobs during the past two decades is now washing over the armed forces, putting both rear-echelon and front-line positions in jeopardy.

“Just as in the civilian economy, automation will likely have a big impact on military organizations in logistics and manufacturing,” said Michael Horowitz, a University of Pennsylvania professor and one of the globe’s foremost experts on weaponized robots.

“The U.S. military is very likely to pursue forms of automation that reduce ‘back-office’ costs over time, as well as remove soldiers from non-combat deployments where they might face risk from adversaries on fluid battlefields, such as in transportation.” Continue reading

Russia Gains Upper Hand In Asian Oil War

The Saudi-led OPEC cuts may have supported oil prices and reduced market volatility, but they have also opened the door wide to rival crude grades flowing into the most prized market for the Middle Eastern producers: Asia.

Reduced supplies by OPEC resulted in higher prices for Middle Eastern crude benchmark Dubai and a narrower Brent/Dubai spread, which made the shipment of Brent-price-linked crude grades to Asia profitable. Continue reading

Warning Signs a Stock Market Crash Is Coming

The Dow has soared 13% since Election Day, and just last week (Feb. 10), all three major indexes closed at all-time highs. The “Trump Rally” has been great for stocks, but some observers are starting to wonder if soaring highs mean a stock market crash is coming.

No one can predict a stock market crash with 100% certainty. But we want our readers to be as informed as possible about what could happen in the market.

That’s why we’re looking into historic stock market crashes to identify warning signs that can be used now. Continue reading

“It Was A Deer In Headlights Moment”: Japan Dumps Most US Treasuries Since May 2013

 

With the December monthly TIC data due out this week, bond traders will be closely watching if the selling of US Treasuries by foreign accounts, and especially central banks, which as we have repeatedly shown for the past several months has hit record levels…

However, this time the surprise may not be China, but its nemesis across the East China Sea, Japan. Continue reading

Trump To Unveil “Passive-Aggressive” Currency War With China

Call it passive-aggressive currency war.

While one of Trump’s most sincere desires, both during his campaign, and ideologically from his life prior to politics, has been to publicly declare China a currency manipulator – something he promised he would do on day one of his administration – and crack down on the “undervalued” Yuan (even though over the past 18 months, China has been scrambling to prevent further devaluation of the Yuan in light of over $1 trillion in capital outflows in recent years), lately Trump appears to have gotten second thoughts, and after backing off on his intent to negotiate the “One China” policy, now Trump is looking for a way out of engaging China directly in currency war. Continue reading

Corporate America Setting Up “War Rooms” To Prep For Potential Trump Tweets

Since November 8th, several public companies have unsuspectingly fallen into the cross hairs of Trump tweets sending their stocks gyrating violently while adding or erasing millions of dollars worth of market cap in a matter of seconds.  Here is just a small sample: (see source)

As we pointed out back in January, Toyota’s shares, along with the Mexican Peso, tumbled on Trump’s threat to impose a “big border tax” on their Corolla imports as the unprepared and shocked company frantically drafted a response. Continue reading

Germany Is Taking Back Gold from the United States

The German Central Bank’s (Bundesbank) member of the board Carl-Ludwig Thiele presents gold bars during a press conference at the headquarters of the German Central Bank (Bundesbank) in Frankfurt, Germany on February 9, 2017. (Abdulselam Durdak/Anadolu Agency/Getty Images)

 

… and it’s ahead of schedule.


The German Central Bank announced on Jan. 16, 2013, that it would relocate the gold from New York to Frankfurt. This decision was made after the U.S. Federal Reserve refused to submit to an audit of German gold held in U.S. vaults. The Germans initially estimated it would take seven years to repatriate the gold, but in yesterday’s announcement, they revealed that they had completed the task four years ahead of schedule. Continue reading

Greece warned Troika they are Playing with Fire

 

Greek Prime Minister Alexis is finally getting some backbone thanks to BREXIT. He has now warned the IMF and the German Federal Minister of Finance Wolfgang Schäuble and Merkel along with the Troika, that they should no longer “play with the fire” in the Greek debt crisis. The Troika’s demands have been an all or nothing approach to subjugate Greece. They have pushed Greece beyond human endurance and the EU will pay the price. Continue reading